Welcome to our dedicated page for Alamo Group news (Ticker: ALG), a resource for investors and traders seeking the latest updates and insights on Alamo Group stock.
Alamo Group Inc. (NYSE: ALG) regularly issues news covering its operations in industrial and vegetation management equipment. As a manufacturer of truck- and tractor-mounted mowing equipment, street sweepers, snow and ice removal equipment, excavators, vacuum trucks, agricultural implements, forestry equipment and related after-market parts and services, the company uses news releases to communicate developments that affect its business and shareholders.
On this page, readers can follow ALG news related to quarterly and annual financial results, including updates on net sales, operating income, cash flow, backlog and divisional performance for the Industrial Equipment and Vegetation Management divisions. Earnings releases often include management commentary on demand from governmental agencies and specialty contractors, order trends, backlog levels and operational initiatives such as facility consolidations.
Alamo Group also announces dividends and capital allocation decisions through its news flow. Recent releases have detailed regular quarterly dividends and an increase in the dividend rate, which the company has linked to its capital allocation strategy and view of long-term value.
Another key category of Alamo Group news is mergers and acquisitions. The company has reported the completed acquisition of Ring-O-Matic, a provider of industrial vacuum excavation equipment, and a definitive agreement to acquire Petersen Industries, a manufacturer of truck-mounted grapple loader equipment. These announcements typically describe the acquired company’s products, end-markets and expected fit within Alamo Group’s divisions.
Investors and industry followers can also find leadership and governance updates, such as CEO succession plans and executive appointments, as well as notices of upcoming earnings conference calls and webcasts. Bookmark this page to access a consolidated stream of Alamo Group Inc. news, from financial performance and dividends to acquisitions and organizational changes.
Alamo Group Inc. (NYSE: ALG) declared a quarterly cash dividend of $0.14 per share, payable on October 28, 2021, to shareholders on record as of October 15, 2021. The company specializes in high-quality equipment for infrastructure maintenance and agriculture, operating 27 plants across North America, Europe, Australia, and Brazil with around 4,070 employees. The announcement highlights the company's ongoing commitment to returning value to shareholders despite potential risks, including market demand fluctuations and supply chain disruptions due to the COVID-19 pandemic.
Alamo Group Inc. reported a strong second quarter for 2021, with net sales reaching $347.6 million, up 29% from the previous year. Net income doubled to $26.0 million, equating to $2.19 per diluted share. The Industrial Division's sales rose 27% to $231.2 million, while the Agricultural Division saw a 35% increase to $116.3 million. Total debt decreased by $38.7 million, down 28%. The backlog for orders rose 11% to $503.6 million, marking a 132% year-over-year increase.
Despite these gains, input cost inflation and supply chain disruptions remain challenges.
Alamo Group (NYSE: ALG) will announce its Q2 2021 financial results on August 4, 2021, after market closure. A conference call to discuss these results is scheduled for August 5, 2021, at 3:00 p.m. ET, led by senior management. Participants can join via phone or listen online at the company's website. Alamo Group is known for its equipment in infrastructure maintenance and agriculture, with over 4,075 employees and operations across several continents as of March 31, 2021.
Summary not available.
On July 1, 2021, Alamo Group announced a quarterly cash dividend of $0.14 per share, payable on July 28, 2021. Shareholders of record will be those on record by the close of business on July 15, 2021. Alamo Group specializes in infrastructure maintenance and agricultural equipment, operating 27 plants worldwide with approximately 4,075 employees. The forward-looking statements highlight potential risks including market demand fluctuations, COVID-19 impacts, and supply chain disruptions that may affect future financial performance.
Alamo Group Inc. (NYSE: ALG) has expanded its Board of Directors from seven to eight members, appointing Jeffery A. Leonard as the new member effective June 1, 2021. Mr. Leonard also took over as President and Chief Executive Officer from Ronald A. Robinson on May 31, 2021. This leadership change aims to strengthen the company's governance and strategic direction as Alamo continues to lead in the design and manufacturing of high-quality equipment for various applications, including infrastructure maintenance and agriculture.
Alamo Group reported a record net income of $17.5 million for Q1 2021, a 12.5% increase from the previous year. Net sales stood at $311.2 million, a 1.0% decline year-over-year. The Industrial Division saw a 7.9% drop in sales to $211.9 million, while the Agricultural Division grew by 17.5% to $99.3 million. EBITDA reached $36.7 million, up 4.9%. The backlog surged to $452.5 million, marking a 94.5% year-over-year increase and 27.8% compared to year-end 2020.
Alamo Group Inc. (NYSE: ALG) will announce its Q1 2021 financial results after market close on May 5, 2021. A conference call to discuss the results will be held on May 6, 2021, at 11:00 a.m. ET, with senior management leading the discussion. The call can be accessed at 800-353-6461 (domestic) or 334-323-0501 (international). A replay will be available until May 13, 2021. The event will also be broadcast live on the company's website.
Alamo Group Inc. (NYSE: ALG) announced that Jeffery A. Leonard will become the President and CEO on May 31, 2021, succeeding Ronald A. Robinson, who will assist during the transition until August 1, 2021. Leonard, with the company since 2011, currently serves as Executive Vice-President of the Industrial Division. Board Chairman Roderick R. Baty emphasized Leonard's leadership skills and strategic vision, suggesting a confident transition for the company’s growth and development. Alamo Group specializes in high-quality infrastructure maintenance equipment.
Alamo Group has declared a quarterly cash dividend of $0.14 per share, scheduled for payment on April 29, 2021. Shareholders of record as of April 15, 2021 will receive this dividend. The company, which specializes in manufacturing and servicing equipment for infrastructure maintenance and agriculture, has approximately 3,990 employees and operates 27 plants across multiple regions, including North America and Europe. Alamo Group emphasizes its commitment to maintaining high-quality production despite challenges posed by the ongoing COVID-19 pandemic.
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